Singapore’s Sembcorp Marine (Sembmarine) has increased its stake in Norway-based Gravifloat AS to 56%, which it intends to fully acquire eventually. In a statement on Wednesday, SembMarine says it acquired a 44% stake in Gravifloat for US$38 million ($52…
Trelleborg has, through its business area Trelleborg Industrial Solutions, signed an agreement and finalized the acquisition of Loggers Rubbertechniek B.V., a Netherlands-based privately owned engineering company that provides specially engineered antivibration solutions…
A merger between Hyundai Merchant Marine (HMM) and Hanjin Shipping remains a real possibility, says the London-based analyst firmDrewry, who has looked at how such a company will look like. The research paper published by Drewry Maritime…
Australian Minister for Defence, Senator the Hon Marise Payne, has officially opened Thomas Global System’s new Electronic and Embedded Systems Innovation Hub. Thomas Global Systems is one of the thousands of small-to-medium enterprises…
Cruise ship operator Genting Hong Kong Ltd is buying three shipyards in Wismar, Warnemünde and Stralsund respectively owned by German shipbuilding company Nordic Yards for $358 million to further enable its presence in the sector. The…
The tradition of shipbuilding in Mecklenburg-Western Pomerania to be continued – with new focus on cruise ships An investor has been found in Malaysia’s Genting Group to enable the continued existence of the three shipyards in Wismar, Rostock and Stralsund…
The Indian Register of Shipping (IRClass) is gearing up to expand its activities in Singapore and throughout South East Asia with plans for opening two more offices in the region over the next two years.IRClass, with a diverse portfolio of services across the marine sector…
The need of the hour is consolidation of container ship lines order to regain profitability and to overcome financial struggles, consulting firm AlixPartners says in a new report. The report says that an increased supply of vessels, coupled with the introduction of giant ships…
Several of the world’s top container lines are entering in different vessel-sharing alliances following the current wave of mergers and acquisitions among carriers, reports China Daily. There has been reports that had shocked the containership…
The boards of the Britannia Club and the UK P&I Club announced today that the two groups are in merger discussions. The boards of the Clubs will now begin a process to determine whether the merger is possible and delivers appropriate benefit to their respective Memberships…
Malaysian state-owned shipping company MISC has bought the remaining 50% stake in the Gumusut-Kakap Semi-Floating Production System Limited (GKL) for $445m from E&P Venture Solutions (EPV), part of Petronas Carigali. GKL, a wholly-owned subsidary of PETRONAS Carigali Sdn Bhd (PCSB)…
CMA CGM acquisition target Neptune Orient Lines (NOL) has made all necessary anti-trust filings and expect that the approvals will come sometime in the middle of 2016. NOL group president and chief executive Ng Yat Chung said NOL, which…
CMA CGM Vice-Chairman Rodolphe Saadé confirmed talks between the French container shipping line and potential partners regarding the future of its alliances, says WSJ. Saadé told the Journal that “we are becoming a larger shipping line…
The German shipping line Hapag-Lloyd posted an operating profit of €366m ($406m) in 2015 compared with a loss of €382m a year earlier. The ocean carrier, which merged with the container arm of Chile’s CSAV in late 2014, reported revenue of $9…
Subsea Global Solutions (SGS) has acquired the assets and personnel of Sea Sub Systems, an underwater vessel repair services company based in Tampa, Fla.The Tampa office, including all staff and equipment, will be rebranded Subsea Global Solutions…